Airport Retailing Market Size, Share & Forecast | USD 51.4 billion by 2030

12  Download (0)

Full text

(1)

© Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1 (646) 663-5829 | +91-702-496-8807

Global Airport Retailing Market Report Opportunities, and Forecast By 2030

Market Research Report

EXCLUSIVE EDITION

Global Industry Analysis, Forecast and Trends, 2022-2030

(2)

© Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1 (646) 663-5829 | +91-702-496-8807

Airport Retailing Market

© 2020 Statsville Consulting Private Limited

Market Statsville Group (MSG)

A part of Statsville Consulting Private Limited

American Office – 800 Third Avenue Suite A #1519 New York, NY 10022

EMEA – 1165 Budapest 16 Diósy Lajos u. 24., Europe

Asia-Pacific Office – F-178 Subhash Marg C Scheme, Ashok Nagar, Jaipur, Rajasthan, 302001

www.marketstatsville.com

Disclaimer: Any information and/or material provided by Statsville Consulting Private Limited, including any and all the analysis and/or research from Market Statsville Group (MSG), is offered to a selected group of customers in response to orders for such information, material, analysis, and/or research. As a customer of Statsville Consulting, you acknowledge that our information, material, and/or services are for your internal use only, and not for any external use and/or dissemination, or general publication, and/or disclosure to any third parties. Any and all the information and/or material provided by Statsville Consulting are based on primary interviews and/or secondary research, and are, therefore, subject to fluctuation and variance. Statsville Consulting takes no responsibility for any incorrect information and/or material supplied to us by sources we rely on, and no part of our analysis or research may be given, lent, resold, or disclosed to any third parties, including non-customers, without explicit or written permission from Statsville Consulting. Unauthorized reproduction and/or transmission of our information, material, analysis, and/or research in any form and by any means, including photocopying, mechanical/electronic recording, or otherwise, without the explicit and written permission of Statsville Consulting, is expressly and clearly prohibited.

Any use of the information, material, analysis, and/or research provided by Statsville Consulting is at your sole risk; you acknowledge that the information, material, analysis, and/or research is provided “as is” and that Statsville Consulting provides no warranty of any kind, express or implied, with regard to the information, material, analysis, and/or research, including but not limited to, merchantability and fitness for any purpose and/or use. At the end, Statsville Consulting will be responsible for the final decision of any action.

(3)

© Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1 (646) 663-5829 | +91-702-496-8807

ABOUT MARKET STATSVILLE GROUP (MSG)

Market Statsville Group (MSG) partners with companies and society to confront their essential risks and challenges to capture the enormous opportunities for them. MSG was initiated its working in 2017, and since then, the brand is moving to become a pioneer in business advisory and market research services.

Market Statsville is the leading market research and strategy builder with the depth and breadth of solutions that perfectly suit your every need. MSG provides solutions in a wide range of industry verticals in the form of market sizing, analysis, and incisive business insights. MSG experienced research analysts are proficient at digging deep and providing a variety of customizable data that help you make decisions with clarity, confidence, and impact.

Market Statsville is your global data intelligence partner for reliable market research data, data gathering, and analytical services. MSG also has an extensive network of top-flight domestic and global research personals around the world, enabling us to provide high-quality worldwide research solutions that cater to a well-established company, government organizations, or a startup. MSG's clients have the authority to work directly with one or more of our researchers to gather the most useful data knowledge and analytical plan to formulate it in the actual practice.

Market Statsville Group believes that to succeed, companies or individuals must blend digital and human capabilities most efficiently. MSG diverse and experienced global team of business consultants and market researchers will ensure the valuable reports for our clients through digging in-depth market information and functional expertise to continuously spark the changes and real-time valuation of variation in the market/industry. MSG works in a uniquely collaborative model throughout the business process across the globe to assist the client's company with the most accurate information that they are aiming for in the reports.

(4)

© Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1 (646) 663-5829 | +91-702-496-8807

Our research is an optimum culmination of secondary and primary research, with the latter playing a major role. We also have an in-house repository and access to a number of external regional and global paid databases to help address specific requirements of our clients. The research process begins with a holistic secondary research, followed by expert interviews. The information gathered is then comprehensively analyzed by our highly experienced in-house research panel

RESEARCH PROCESS

(5)

© Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1 (646) 663-5829 | +91-702-496-8807

Airport Retailing Market 2022: Industry Size, Regions, Emerging Trends, Growth Insights, Opportunities, and Forecast By 2030

Description

The global airport retailing market size is projected to reach USD 51.4 billion by 2030 from USD 19.9 billion in 2021, growing at a CAGR of 12.6% from 2022 to 2030. The global airport retailing market has been growing rapidly in the last few years owing to the increase in the inclination of people toward traveling and exploring unique holiday destinations. The market's growth is further driven by the upsurge in disposable income and improvement in the living standard of living. An increase in the number of high net worth individual (HNIs) in emerging markets further propels the market's growth.

Airport Retailing Market by Product (Liquor & Tobacco, Perfumes & Cosmetics, Fashion &

Accessories), by Airport Size (Large Airport, Medium Airport, and Small Airport), by Distribution

Channel, by Region – Global Share and Forecast to 2030

(6)

© Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1 (646) 663-5829 | +91-702-496-8807 6

The rise in tourism promotion, changes in lifestyle, and increased accessibility of transportation facilities are all factors that are expected to boost the growth of the airport retailing market. Technological advancements, for instance, have made it easier to book hotels and transportation through online portals, boosting the market growth. Moreover, the inclination of consumers toward a luxurious lifestyle is one of the factors that drive the growth of the airport retailing market.

However, the implementation of stringent baggage rules changes the buying behavior of customers, which

hampers the sales of duty-free and other products on the airport premises, thereby restraining the development of the airport retailing market. On the contrary, untapped countries in Asia-Pacific and MEA possess huge

growth prospects in the coming years. For instance, strengthening of the economy in several countries in the MEA boosts market growth. In addition, an increase in the number of millennials is projected to drive the growth of the airport retailing market.

Request Sample Copy of this Report: https://www.marketstatsville.com/request-sample/airport- retailing-market

Definition of Global Airport Retailing Market

Airport retailing refers to several retail services such as jewelry, books & magazines, gifts & crafts, clothing &

accessories, convenience stores, and perfumes in the airport premises to provide enhanced convenience to travelers. In addition, airport retailing offers a wide range of merchandise and is a relatively easy choice for travelers.

(7)

© Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1 (646) 663-5829 | +91-702-496-8807 7

COVID-19 Impact on the Global Airport Retailing Market

The COVID-19 pandemic has impacted every industry on the planet. The tourism industry has been hit hard worldwide, affecting related industries such as travel agencies, hotels, tour operators, and various modes of transportation. Around 90% of the world's population adapted to their new

lifestyles due to several travel restrictions, while the rest stayed at home out of fear of the virus. As a result, the tourism industry came to a halt. The World Travel and Tourism Council (WTCC)

published an article in August 2020 estimating that the COVID-19 pandemic will cost the tourism industry nearly $25 billion in revenue and nearly 100 million jobs worldwide. The coronavirus

outbreak has impacted airport retail stores as well as the tourism industry.

Global Airport Retailing Market Dynamics Drivers: Rise in disposable income

The two main factors that drive the market growth are an improvement in the economy and an

increase in disposable income. The global economy came to a halt following the 2009 economic crisis in Europe and the economic crisis in China. This economic crisis impacted almost every country on the planet. A strong recovery from the crisis, on the other hand, resulted in strong economic growth, particularly in developing countries. As a result, middle-income groups' disposable income has

increased, resulting in an increase in the middle-class population. Furthermore, disposable income in Europe and Asia-Pacific has increased significantly, fueling the expansion of the airport retailing

market.

(8)

© Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1 (646) 663-5829 | +91-702-496-8807 8

Restraints: Stringent baggage rules

The limitation over luggage weightage has restricted the market growth over the forecast period. For Instance, India’s national carrier, Air India, and its budget airline have restricted the weight of hand luggage carried by

passengers from the UAE. The free allowances for hand luggage are restricted to 8Kg for Air India and 7kg for its budget airline Air India Express, including duty-free items. Turkish Airlines allows not more than 8kg handbags, while the luggage is limited up to 32kgs. Lufthansa permits its passengers to follow a baggage allowance of not more than 32–40kgs. Owing to such restrictions, people try to purchase the limited stock of gifts and liquor from airport retail stores. Furthermore, the buying behavior of customers changes, owing to the enforcement of stringent baggage rules, which hampers the sales of duty-free and other products on airport premises, thus limiting the

growth of the airport retailing market.

Global Airport Retailing Market Segmentation

The study categorizes the airport retailing market-based on the product, airport size, and distribution channel at the regional and global levels.

Direct Purchase Report: https://www.marketstatsville.com/buy-now/airport-retailing- market?opt=2950

By Product Outlook (Sales/Revenue, USD Million, 2017-2030)

•Liquor & Tobacco

•Perfumes & Cosmetics

•Fashion & Accessories

•Food & Beverages

•Others

(9)

© Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1 (646) 663-5829 | +91-702-496-8807 9

By Airport Size Outlook (Sales/Revenue, USD Million, 2017-2030)

•Large Airport

•Medium Airport

•Small Airport

By Distribution Channel Outlook (Sales/Revenue, USD Million, 2017-2030)

•Direct Retailer

•Convenience Store

•Specialty Retailer

•Departmental store

By Region Outlook (Sales/Revenue, USD Million, 2017-2030)

•North America (US, Canada, Mexico)

•South America (Brazil, Argentina, Colombia, Peru, Rest of Latin America)

•Europe (Germany, Italy, France, UK, Spain, Poland, Russia, Slovenia, Slovakia, Hungary, Czech Republic, Belgium, the Netherlands, Norway, Sweden, Denmark, Rest of Europe)

•Asia Pacific (China, Japan, India, South Korea, Indonesia, Malaysia, Thailand, Vietnam, Myanmar, Cambodia, the Philippines, Singapore, Australia & New Zealand, Rest of Asia Pacific)

•The Middle East & Africa (Saudi Arabia, UAE, South Africa, Northern Africa, Rest of MEA)

(10)

© Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1 (646) 663-5829 | +91-702-496-8807 10

The perfumes & cosmetics segment is projected to account for the largest market share, by product type

Access full Report Description, TOC, Table of Figure, Chart,

etc: https://www.marketstatsville.com/table-of-content/airport-retailing-market

Depending on product type, the market is categorized into liquor & tobacco, perfumes & cosmetics, fashion &

accessories, food & beverages, and others. In 2021, The perfumes & cosmetics segment was the highest

contributor to the market, with 39.5% of the global airport retailing market share. Liquor such as whiskey, aperitif, champagne, tequila, Armagnac, rum, beer, and wine are available in airport retail shops.

The consumption of wines, particularly luxury wines, and spirits, has increased significantly in the past few years.

With an increase in the number of middle-aged consumers between 35 and 55 years prefer wine. This is

anticipated to encourage liquor manufacturers to launch special duty-free and travel retail products. In addition, liquor producers launch regional and international flavors of various wines, beers, and whiskeys, which attract consumers to try new flavors, thus contributing toward the market growth. For tobacco products, consumers are more likely to buy international editions of cigars, cigarettes, and regional tobacco products. Consumers get a wide variety of cigarettes in the airport retail shops at lower prices than the open market, as they are duty-free.

(11)

© Statsville Consulting Private Limited www.marketstatsville.com | sales@marketstatsville.com | +1 (646) 663-5829 | +91-702-496-8807 11

Asia Pacific accounts for the highest CAGR during the forecast period

Region-wise, the market is segmented into North America, Asia-Pacific, Europe, South America, and the Middle East & Africa. Worldwide, Asia Pacific is projected to hold the highest CAGR of 13.7% in the global airport retailing market during the forecast period. Asia-Pacific in the airport retailing market is studied across China, Thailand, Japan, India, Australia, and South Korea.

Asia-Pacific is growing at the fastest rate owing to improvement in living standards, rise in disposable income, and growth in the tourism industry.

After the Asia Pacific, Europe is the fastest-growing region with a CAGR of 11.9% in the global airport retailing market. North American airports heavily invest in analyzing revenue per visitor by providing an upgraded shopping experience with facilities, such as boarding, lodging,

catering, parking, and advertising. In addition, focusing on promotional activities such as campaigns, digital advertising, events, and press activities are fueling the dutyfree shopping and product visibility.

Request For Report Description: https://www.marketstatsville.com/airport-retailing-market

(12)

800 Third Avenue Suite A #1519 New York, NY 10022

Phone : +1 (646) 663-5829

Mail : sales@marketstatsville.com

F-178 Subhash Marg C Scheme, Ashok Nagar, Jaipur, Rajasthan, 302001

Phone : +91 702 496 8807

Mail : sales@marketstatsville.com

Market Statsville Group (MSG)

Thank You

Figure

Updating...

References

Related subjects :